2x2 walls, and value?

[hint]

I just purchased my first house and I noticed the basement walls were framed with 2x2s. Should I be replacing this with 2x4s which would allow me to re-insulate the walls with better insulation? I live in canada and our winters to get pretty fierce. I'm more or less just looking for ways to increase the value in my house and the efficiency. Advice is greatly appreciated, thanks!